Global ownership registry

ABSTRACT

Described herein is a system in which an electronic record is stored on a distributed environment with respect to an item. In this system, transactions may be conducted for an item in an anonymous fashion. In some embodiments, a first user may input an item identifier associated with an item as well as an indication of an action to be performed with respect to that item. The identifier may be transmitted to a blockchain network, which may use that identifier to locate a blockchain associated with the item. A blockchain may include a series of transaction records associated with the item, each of which is signed using a private key. Upon performance of the indicated action, the blockchain network may generate a new transaction record, append that transaction record to the blockchain, and sign the transaction record.

BACKGROUND

When users obtain ownership interests in various items, there is a riskthat the item will become lost or stolen. Conventional registrationsystems (e.g., registering the item with the manufacturer, retailer,etc.) may not provide sufficient means to recover those items when thisoccurs. Users that purchase secondhand goods have no way of determiningwhether the goods are currently stolen or legitimately owned by theseller. This often puts buyers of secondhand goods at risk of being inpossession of stolen property and can stifle secondhand sales.Additionally, there is always a risk that providing personal informationto an untrusted party (e.g., in such a secondhand sale) may expose thatinformation to abuse.

Current registration systems for products are also cumbersome andpurchasers of those products often don't use them, because of the largenumber of inconvenient steps needed to register items. For example, aconventional item registration system may request that a user fill out apaper or online form. The form may be relatively long, and the length ofthe form can deter a person from entering any data into it. Afterfilling out the form, the user sends the information back to the itemregistry. While such registries are suitable for warranty or recallnotifications, they are slow and difficult to use, and they cannot beused by third parties who may need to access the information.

Embodiments of the invention address these and other problems,individually and collectively.

BRIEF SUMMARY

Embodiments of the disclosure are directed to a system in which anelectronic record (e.g., a blockchain) may be generated for an ownershipinterest within a distributed environment. The electronic record maycomprise a number of transaction records that involve multiple users,where the transaction records are each associated with a transfer of theownership interest. Transaction records may be associated with an itemand may be appended to a ledger associated with that item as they arereceived by the blockchain network.

One embodiment of the invention is directed to a method comprisingreceiving a request to perform an action with respect to an item, therequest including at least an item identifier, identifying, based on theitem identifier, a blockchain associated with the item, the blockchainincluding a series of transaction records, identifying, from atransaction record of the series of transaction records, a contactinformation for a current owner of the item, providing a notification ofthe requested action to the current owner via the contact information,completing the requested action upon receiving a response to thenotification, generating a new transaction record based on the action,and appending the new transaction record to the blockchain.

Another embodiment of the invention is directed to a processing nodecomprising one or more processors, and a memory including instructionsthat, when executed by the one or more processors, cause the processingnode to: receive a request to perform an action with respect to an item,the request including at least an item identifier, identify, based onthe item identifier, a blockchain associated with the item, theblockchain including a series of transaction records, identify, from atransaction record of the series of transaction records, a contactinformation for a current owner of the item, provide a notification ofthe requested action to the current owner via the contact information,complete the requested action upon receiving a response to thenotification, generate a new transaction record based on the action, andappend the new transaction record to the blockchain.

Another embodiment of the invention is directed to a client devicecomprising at least one input sensor, one or more processors, and amemory including instructions that, when executed by the one or moreprocessors, cause the client device to: obtain, via the at least oneinput sensor, an identifier for an item, generate, based on inputreceived from a user of the client device, a request to perform anaction with respect to the item, the request including at least theidentifier, transmit the request to an item registry network, therequest causing the item registry network to: identify an item registryassociated with the item from a plurality of item registries, the itemregistry including a series of transaction records, and complete theaction with respect to the item using information included in at leastone transaction record of the series of transaction records. Theinstructions further causing the client device to receive a response tothe request that indicates completion of the action.

These and other embodiments of the invention are described in furtherdetail below.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 depicts a block diagram of an exemplary system in which anelectronic record associated with an item may be maintained within adistributed environment in accordance with at least some embodiments;

FIG. 2 depicts a diagram of an exemplary blockchain node 112 and twoexemplary client devices 104 and 106 in accordance with at least someembodiments;

FIG. 3 depicts an illustrative example of a process 300 that may beperformed to verify/transfer an ownership interest for a registry itemin accordance with at least some embodiments of the disclosure;

FIG. 4 depicts an example electronic record that may be implemented inrelation to a registry item in accordance with at least some embodimentsof the disclosure;

FIG. 5 depicts a first example process 500 for generating an itemregistry record and transferring an ownership interest in the item thatmay be implemented in accordance with embodiments of the disclosure; and

FIG. 6 depicts a second example process 600 for generating an itemregistry record and transferring an ownership interest in the item thatmay be implemented in accordance with embodiments of the disclosure.

DETAILED DESCRIPTION

In the following description, various embodiments will be described. Forpurposes of explanation, specific configurations and details are setforth in order to provide a thorough understanding of the embodiments.However, it will also be apparent to one skilled in the art that theembodiments may be practiced without the specific details. Furthermore,well-known features may be omitted or simplified in order not to obscurethe embodiment being described.

Prior to discussing the details of some embodiments of the presentinvention, description of some terms may be helpful in understanding thevarious embodiments.

An “application server” may be any computing device configured toprovide remote support for a client device. The application server maybe associated with a set of computer executable instructions to beinstalled on, and executed from, a client device (e.g., a mobileapplication). The application server may provide any suitable serviceand/or processing for the client device. For example, the applicationserver may perform calculations on behalf of the client device. In someembodiments, the application server may maintain an account for one ormore users. The application server may also store any protocols and/oruser preferences related to the operation of the client device.

A “blockchain network” may be a distributed database that maintains acontinuously-growing list of records secured from tampering andrevision. A blockchain may include a number of blocks of transactionrecords for a number of users. Each block in the blockchain can alsocontain a timestamp and a link to a previous block. Stated differently,transaction records in a blockchain may be stored in an electronicrecords as a series of “blocks,” or permanent files that include arecord of a number of transactions occurring over a given period oftime. Blocks may be appended to a blockchain by an appropriate nodeafter it completes the block and the block is validated. In embodimentsof the invention, a blockchain may be distributed, and a copy of theblockchain may be maintained at each node in a blockchain network. Anynode within the blockchain network may subsequently use the blockchainto verify transactions.

A “client device” may be any electronic device capable of establishing acommunication session with another electronic device (e.g., anapplication server) and transmitting/receiving data from that device. Aclient device may include the ability to download and/or execute mobileapplications. Client devices may include mobile communication devices aswell as personal computers and thin-client devices.

A “cryptographic key” may be any string of bits used by a cryptographicalgorithm to transform plain text into cipher text or vice versa.Cryptographic keys may include symmetric and asymmetric keys. Acryptographic key may be used to sign transactions and/or verify signedtransactions. For example, a cryptocurrency transaction may be signedusing a private key. The signed transaction may then be verified using apublic key that corresponds to the private key.

An “item identifier” may be any suitable string of characters or symbolsused to uniquely identify an item (e.g., a tangible or intangible asset)within a computerized environment. In some embodiments, the itemidentifier may be a value calculated by hashing one or more input valuesrelated to the item. In this way, the item identifier may beindependently generated by any entity that has the prerequisiteinformation (e.g., an entity in possession of the item). In someembodiments, the item identifier may correspond to a Universal ProductCode (UPC) and serial number or other identifier. Some items may includean indication of their respective item identifiers (e.g., within abarcode or other machine-readable code associated with the item).

An “electronic record” may be any record of transactions storedelectronically. For example, an electronic record may comprise a numberof transaction records associated with a particular itemidentifier/item. In some embodiments, an electronic record may becompiled by identifying each of the transaction records recorded in adistributed environment that are associated with a particular itemidentifier. In some embodiments, the electronic record may include aportion generated by, and signed using a private key associated with,the user with which a transaction is associated. In some embodiments,the electronic record may be in the form of a blockchain ledger.

A “ledger” or “item registry” may be any electronic record that includestransaction records for a user. In some embodiments, a ledger may be anelectronic record which is generated by a blockchain network such that,as transaction records are appended to the ledger, they are linked toprevious transaction records and signed using a private key. Theauthenticity of an entry of the ledger may then be verified by anyentity in possession of the transaction record information and a publickey associated with the private key.

A “mobile communication device” may be any portable electronic devicethat has a primary function related to communication. For example, amobile communication device may be a smart phone, a personal dataassistant (PDA), or any other suitable handheld device. The mobilecommunication device may be configured to input cryptocurrency addressesand display any received aliases. In some embodiments, the mobilecommunication device may be configured to store a private key to beassociated with a cryptocurrency address and/or alias.

A “private key” is a type of cryptographic key that is kept secret by aparty. A private key may be used to sign transactions such that they maybe verified using the blockchain network.

A “public key” may be a type of cryptographic key that is distributedto, or available to, some entity other than a party holding acorresponding private key. In some embodiments, the key may bepublically available, while in other cases it may be distributed tonodes in a network, but the network itself may not be accessible to thegeneral public. A public key may be made available to nodes of ablockchain network and/or resource providers so that signed transactionsassociated with the public key may be verified by the nodes.

A “server computer” may include a powerful computer or cluster ofcomputers. For example, the server computer can be a large mainframe, aminicomputer cluster, or a group of servers functioning as a unit. Inone example, the server computer may be a database server coupled to aWeb server. The server computer may be coupled to a database and mayinclude any hardware, software, other logic, or combination of thepreceding for servicing the requests from one or more client computers.The server computer may comprise one or more computational apparatusesand may use any of a variety of computing structures, arrangements, andcompilations for servicing the requests from one or more clientcomputers.

A “transaction record” may be any indication of a transaction conductedwith respect to an item for which a ledger is maintained. A transactionrecord may include a number of details related to the transactionconducted. For example, the transaction record may include an indicationas to the parties involved in the transaction, the type of transactionconducted, an amount for which the transaction has been conducted, orany other suitable information.

The term “verification” and its derivatives may refer to a process thatutilizes information to determine whether an underlying subject is validunder a given set of circumstances. Verification may include anycomparison of information to ensure some data or information is correct,valid, accurate, legitimate, and/or in good standing. In some examplesof verification described in the disclosure, electronic records may besigned using a private key and verified using a public key.

Details of some embodiments of the present invention will now bedescribed.

FIG. 1 depicts a block diagram of an exemplary system in which anelectronic record associated with an item may be maintained within adistributed environment in accordance with at least some embodiments. InFIG. 1, a number of client devices may be in communication with an itemregistry network 102 via a network connection. Each of the number ofclient devices may perform different roles within the system at anygiven time. By way of non-limiting example, a client device may act as atransferee client device 104, a transferor client device 106, or averifier client device 108. The item registry network 102 may maintain anumber of global registries, each of which is used to recordtransactions related to a registry item 110.

In some embodiments, the item registry network 102 may be a blockchainnetwork. A blockchain network may include a distributed environmentimplemented across number of blockchain nodes 112, each of whichrepresents a computing system or component. An example of a blockchainnode 112 that may be implemented in accordance with various embodimentsis described in greater detail with respect to FIG. 2. A copy of ablockchain (a record of electronic records) may be distributed to eachblockchain node 112 within the item registry network 102. In someembodiments, at least some of the blockchain nodes 112 may each be ownedand/or operated by at least one of a service provider entity or aresource provider entity. In some embodiments, the item registry network102 may comprise a number of computing devices operated by entities thateach belong to a particular group or have obtained a particularcertification. Additionally, one or more of the blockchain nodes 112 maybe an administrative node. An administrative node may be a blockchainnode 112 which is operated by a service provider that operates the itemregistry network 102 and has a greater level of permissions than otherblockchain nodes 112. For example, in some embodiments, only anadministrative node may sign transaction records using a private keyassociated with the service provider. In some embodiments, each of theblockchain nodes of the item registry network 102 may be operated by asingle entity. In some embodiments, one or more of the blockchain nodesof the item registry network 102 may be operated by different entitiesthat participate in the item registry network 102.

The blockchain nodes 112 of the item registry network 102 may includesome combination of edge nodes and processing nodes. An edge node may beany computing device configured to provide egress/ingress to the itemregistry network 102. In some embodiments, an edge node may beconfigured to determine whether an entity is authorized to participatein the item registry network 102. The processing nodes 112 may be anycomputing device configured to perform at least a portion of thefunctionality described herein. A processing node 112 may be configuredto perform registry update/verification actions in accordance withembodiments described herein. In some embodiments, each processing nodeof the item registry network 102 may be configured to perform at least anotification service 114 and/or an identity service 116. Additionally,global registries, or other electronic records, may be distributed toeach processing node of the item registry network 102. In some cases,this may include public global registries 118 and/or private globalregistries 120. At least a portion of the data stored within an itemregistry may be encrypted.

A client device 104, 106, or 108 may comprise any suitable computingdevice capable of receiving input related to a registry item 110 (e.g.,via an input sensor 122) and interacting with the item registry network102. The client device 102 may include at least a processor and amemory. The memory of the client device may include computer-executableinstructions that cause the processor to perform certain functions inaccordance with embodiments of this disclosure. For example, the memorymay include a mobile application that causes the mobile device toinitiate a transaction using the received input related to the registryitem.

In some embodiments, the memory of the client device may include asecure execution environment such as a secure memory (e.g., Smartcardbased technology available in low-power devices). In some embodiments,the secure memory may include a secure element. A secure element (SE)can be a tamper-resistant platform (typically a one chip securemicrocontroller) capable of securely hosting applications and theirconfidential and cryptographic data (e.g. key management) in accordancewith the rules and security requirements set forth by a set ofwell-identified trusted authorities. Sensitive information (e.g., userdata) received by, and stored upon, the client device may be stored inthe secure memory.

In some embodiments, at least a portion of the functionality performedby a mobile application installed upon, and executed from, the clientdevice may be performed by a mobile application server in communicationwith the mobile application. For example, upon execution of a mobileapplication, the client device may establish a communication sessionwith an application server in which at least some processing isperformed by the application server on behalf of the mobile application.In some embodiments, the application server may maintain an accountassociated with the client device and/or its user. The accountmaintained by the application server may store a number of data elementsrelated to the user. For example, the application server may store userdata, information on item ownership (e.g., an item registry), or anyother suitable data. The application server may, upon receiving arequest from the client device executing the mobile application,initiate a transaction with the item registry network 102 on behalf ofthe client device.

As pointed out above, the client device may perform different roleswithin the system at any given time. In some embodiments, a clientdevice may act as a transferee client device 104, a transferor clientdevice 106, or a verifier client device 108 depending on the context inwhich it is being used. It should be noted that the client device mayperform one role in a first transaction and a different role in a secondtransaction.

A transferee client device 104 may be a client device which communicateswith the item registry network 102 to obtain an ownership interest in aregistry item 110. In some embodiments, a transaction to transfer anownership interest in a registry item 110 may be initiated via atransferee client device 104. For example, an identifier for theregistry item 110 may be input into the transferee client device 104 viaan input sensor 122. In some embodiments, the input sensor 122 may be akeypad and the identifier 124 may be manually entered via the keypad bythe user of the transferee client device 104. In some embodiments, theinput sensor may be a barcode reader and the identifier 124 may bepresented in the form of a machine-readable code. Upon receiving theidentifier 124, the transferee client device 104 may initiate atransaction for a transfer of ownership by communicating the identifier124, as well as an indication of the transferee client device 104, tothe item registry network 102. The transferee client device 104 may thenreceive a notification from the item registry network 102 as to whetherthe transaction has been approved or declined.

A transferor client device 106 may be a client device which communicateswith the item registry network 102 to divest an ownership interest in aregistry item 110. In some embodiments, a node 112 of the item registrynetwork 102 may communicate with the transferor client device 106regarding a transaction initiated with respect to a registry item 110.For example, the transferor client device 106 may receive a notificationthat a transaction has been initiated with respect to a particular itemwhich is currently owned by the user of the transferor client device106. The notification may include a number of details related to theregistry item 110 so that the user of the transferor client device 106is able to verify that the item being transferred is the correct item.The user of the transferor client device 106 is then able to provide aresponse to the notification indicating whether or not the transactionshould be approved or declined. In some embodiments, a transaction totransfer ownership of a registry item 110 may be initiated using thetransferor client device 106. For example, the transferor client device106 may receive, via an input sensor 122, an identifier 124 for theregistry item 110 as well as an indication of a user to which ownershipshould be transferred. In this example, the transferor client device 106may relay the information to the item registry network 102, which mayinitiate a transfer of ownership for the registry item 110 to theindicated user.

A verifier client device 108 may be a client device configured to verifya current ownership status for a registry item 110. In some embodiments,a transaction to verify an ownership status for a registry item 110 maybe initiated via a verifier client device 108. For example, anidentifier for the registry item 110 may be input into the verifierclient device 108 via an input sensor 122 and subsequently transmittedto the item registry network 102. The verifier client device 108 maythen receive a notification from the item registry network 102 as towhether the registry item 110 is currently stolen. In some embodiments,the verifier client device 108 may receive an indication of a currentowner of the registry item 110. In some embodiments, a verifier clientdevice 108 may be able to access different types of information based ona user of the verifier client device 108. For example, a typicalverifier client device 108 may not have access to a current owner'sinformation and may be limited to receiving only an indication as towhether the item is currently stolen. However, a verifier client device108 operated by a law enforcement entity may have access to a currentowner's complete information. In some embodiments the owner wouldcontrol who is allowed to access the owner's information and whichelements are accessible.

In some embodiments, the client device may include a communicationinterface configured to enable communication between the client deviceand another electronic device (e.g., a blockchain node 112, anapplication server, and/or a wireless router that manages access to anetwork). Examples of a suitable communication interface may includeradio frequency (RF) transceivers configured to send and receivecommunications using near-field communications (NFC), or other radiofrequency or wireless communication protocols such as Bluetooth,Bluetooth low-energy (BLE), a wireless local area network (e.g., WiFi),iBeacon, etc. In some embodiments, the communication interface mayinclude both long range and short range communication means. Forexample, the communication interface may include an antenna configuredto connect to a cellular network in order to enable communication withvarious other components of the depicted architecture.

A registry item 110 may be any item (tangible or intangible) for whichan ownership interest may exist. In some embodiments, an item registrymay be maintained for each registry item 110. In some embodiments, anitem registry may be maintained for a particular type of registry item.For example, an item registry may be maintained for vehicles. In someembodiments, multiple global registries may be maintained for a registryitem 110. For example, separate private and public global registries maybe maintained for an item, wherein the private item registry includesinformation unavailable via the public item registry, but may only beaccessed by an authorized entity. A registry item 110 may include anindication of an identifier 124. In some embodiments, an identifier mayinclude any information related to the item. For example, the identifiermay include an indication of a type of the item as well as a serialnumber for the item.

In some embodiments, an item registry may be created, or otherwisegenerated within the item registry network 102, by a resource providercomputer. The resource provider computer may comprise any suitablecomputing device operated on behalf of a resource provider entity (e.g.,a merchant) which is capable of providing access to one or moreresources. In some embodiments, each resource provider computer maymaintain a respective database that includes transaction data and/oritem registries. The transaction data may include records oftransactions conducted between the resource provider computer and anumber of users.

In some embodiments, a resource provider computer and/or applicationserver may be a blockchain node 112, having access to, and participatingin the operation of, the item registry network 102. In some embodiments,one or more entities may not have access to the item registry network102, but may be provided with a public key that may be used to verifyelectronic records associated with the item registry network 102. Forexample, in some embodiments, a client device may be capable ofverifying a transaction transferring ownership of a registry item 110without having the ability to participate in the item registry network102.

By way of illustrating interactions between various components of thesystem described herein, consider a scenario in which a first userwishes to transfer an ownership interest in a registry item 110 to asecond user while remaining relatively anonymous. In this example, thesecond user may execute a mobile application on his or her mobile deviceand scan a barcode or other identifier 124 on the object. The mobileapplication on the second user's client device (i.e., the transfereeclient device 104) may then communicate the identifier for the item tothe item registry network 102 along with an indication of the seconduser. In this example, a node 112 of the item registry network 102 mayidentify an item registry blockchain associated with the scanned item.The node 112 of the item registry network 102 may identify contactinformation for the first user from that item registry blockchain andmay provide a notification to the first user's client device (i.e., thetransferor client device 106). Upon receiving the notification, thefirst user may elect to approve or decline the transaction for thetransfer of ownership. If the first user approves the transaction, thena transaction record for the transaction may be generated and appendedto the item registry blockchain. This transaction record may be signedusing a private key. In some embodiments, the transaction record issigned using a private key associated with the first user. In someembodiments, the transaction record is signed using a private keyassociated with the item registry network 102. Once the transactionrecord has been appended to the item registry blockchain and signed,ownership of the registry item 110 is transferred from the first user tothe second user. It should be noted that at least partial anonymity maybe maintained throughout the transaction by withholding any informationabout the first or second user from either of those parties.

A current ownership status of the registry item 110 may be checked atany time. For example, if the second user brings the registry item 110to a pawn shop, then the pawn shop employee may verify that the seconduser is actually the owner of the registry item 110 (e.g., by usinghis/her client device as a verifier client device). It should be notedthat this process may also be performed at least partially anonymously.For example, the pawn shop employee may scan, or otherwise input,details of the registry item 110, which are then conveyed to the itemregistry network 102. In this example, a node 112 of the item registrynetwork 102 may identify the item registry blockchain associated withthe registry item 110. The node 112 of the item registry network 102 mayidentify contact information for the second user (as the current owner)from that item registry blockchain and may provide a notification to thesecond user's client device. The second user may then indicate that theregistry item 110 is not currently stolen. Upon receiving a responsefrom the second user's client device, the item registry network 102 mayprovide a notification to the pawn shop employee that the item is notcurrently stolen.

In some embodiments, statuses of the item other than an ownership statusmay be verified using the disclosed system. For example, a verifierclient device 108 may be used to verify the authenticity of a particularitem. For example, a luxury item may be associated with a unique itemidentifier by the item's manufacturer. In this example, a user mayverify not only that the item is not stolen, but that it is an authenticversion of the item (as opposed to a counterfeit). In another example,in the case that the item is a house or vehicle, a verifier clientdevice 108 may be used to check historical data for the item. By way ofillustration, the verifier client device 108 may be used to check ahouse's insurance claim history or a vehicle's maintenance/accidentrecord. It is envisioned that any number of types of information may bestored in a transaction record within an item registry, each of whichmay provide information relevant to the item.

In some embodiments, record data maintained by the item registry network102 may be stored anonymously (e.g., such that it is not easilyassociated with a particular user or account holder). For example, therecord data may comprise a number of resource locator addresses thatreference user data without an indication of the user. In someembodiments, the item registry network 102 may store a record of a userrelated to each resource locator address in a separate data store (e.g.,in a database table). In some embodiments, an item registry may includeonly contact information for an item within the item registry (e.g., aphone number or email address), such that a current owner of an itemcannot easily be identified. In some cases, the user information may beencrypted, such that it may only be accessed by a blockchain node 112 ofthe item registry network 102.

In accordance with at least some embodiments, the item registry network102 may comprise a federated and/or permission-based environment. Forexample, in order to participate in, or use, the item registry network102, an entity may need to be certified or otherwise authenticated. Forexample, the item registry network 102 may require that each entity besubject to trust services management (TSM) policies and/or rules. Insome examples, different entities may be subject to different policiesbased on the type of entity that it is. For example, servers associatedwith a resource provider may be trusted automatically, whereas serversassociated with an individual may need to receive certification from aresource provider. In these examples, only trusted entities may haveaccess to, or participate in, the item registry network 102.

Some embodiments of the system described herein may require mandatoryparticipation. For example, in the case that a user purchases a firearmor other weapon, an item registry may be generated for that particularfirearm. Transfers of an ownership interest in the firearm may berecorded in that item registry so that law enforcement officials caneasily check the current ownership status of the firearm. In someembodiments, the system may act as an automatic registration system. Forexample, a user may elect to participate in the system by providing anindication to an issuer of their payment device. In this example, anyitems involved in a transaction conducted using the payment device mayautomatically be registered to that user.

For simplicity of illustration, a certain number of components are shownin FIG. 1. It is understood, however, that embodiments of the inventionmay include more than one of each component. In addition, someembodiments of the invention may include fewer than or greater than allof the components shown in FIG. 1. In addition, the components in FIG. 1may communicate via any suitable communication medium (including theinternet), using any suitable communications policy.

FIG. 2 depicts a diagram of an exemplary blockchain node 112 and twoexemplary client devices 104 and 106 in accordance with at least someembodiments. The blockchain node 112 may be an example blockchain node112 of FIG. 1. The client devices 104 and 106 may be example respectiveclient devices 104 and 106 of FIG. 1.

The blockchain node 112 may be any type of computing device capable ofreceiving an item identifier from a client device, identifying an itemregistry associated with the item, communicating with a second clientdevice, updating the item registry to include a transaction record,signing the item registry using a private key, and distributing the itemregistry to other blockchain nodes within an item registry network. Inat least some embodiments, the blockchain node 112 may include at leastone memory 202 and one or more processing units (or processor(s)) 204.The processor(s) 204 may be implemented as appropriate in hardware,computer-executable instructions, firmware or combinations thereof.Computer-executable instruction or firmware embodiments of theprocessor(s) 204 may include computer-executable or machine executableinstructions written in any suitable programming language to perform thevarious functions described.

The memory 202, or any other memory described herein, may store programinstructions that are loadable and executable on the processors, as wellas data generated during the execution of these program instructions.The memory may be volatile (such as random access memory (RAM)) and/ornon-volatile (such as read-only memory (ROM), flash memory, etc.). Theblockchain node 112 may also include additional storage 206, such aseither removable storage or non-removable storage including, but notlimited to, magnetic storage, solid-state storage, optical disks, and/ortape storage. The disk drives and their associated computer-readablemedia may provide non-volatile storage of computer-readableinstructions, data structures, program modules, and other data for theblockchain node 112. In some embodiments, the memory 202 may includemultiple different types of memory, such as static random access memory(SRAM), dynamic random access memory (DRAM) or ROM.

Turning to the contents of the memory 202 in more detail, the memory 202may include an operating system 208 and one or more application programsor services for implementing the features disclosed herein including atleast a module for generating and managing electronic records associatedwith items (administration module 210). The memory 202 may also includeitem registry data 212, which provides data associated with an item'stransaction history and user data 214, which provides data associatedwith a user and/or account.

In some embodiments, the administration module 210 may, in conjunctionwith the processor 204, be configured to perform at least one of anotification service or an identity service. The administration module210 may receive a request from a client device to obtain a statusrelated to, or cause a transfer of, an ownership interest in an item. Insome embodiments, the request may include an identifier for the item.Upon receiving the request, the administration module 210 may beconfigured to identify an item registry (which may be a blockchain)associated with the item. From the identified item registry, theadministration module 210 may determine the current owner of the item.For example, the current owner may be identified from the most recenttransaction record related to a transfer of ownership. In someembodiments, a transaction record may also include contact informationfor the current owner. In some embodiments, the administration module210 may retrieve user information from a database table related to thecurrent owner. Once the current owner's contact information has beenretrieved, the administration module 210 may be configured to provide anotification to a client device associated with the current owner usingthe contact information.

Once the administration module 210 has sent a notification to the clientdevice associated with the current owner, the current owner may be giventhe opportunity to respond to the notification. In some embodiments, thenotification may be provided as a push notification or short messagingservice (SMS) message. Upon receiving a response from the item's owner,the administration module 210 may complete or cancel the requestedtransaction based on the received response. This is discussed in greaterdetail with respect to FIG. 3.

The blockchain node 112 may also contain communications interface(s) 216that enable the respective server to communicate with a stored database,another computing device or server, one or more remote devices, and/orany other suitable electronic devices. In some embodiments, thecommunication interface 216 may enable the server to communicate withother electronic devices on a network (e.g., on a private network). Theblockchain node 112 may also include input/output (I/O) device(s) and/orports 218, such as for enabling connection with a keyboard, a mouse, apen, a voice input device, a touch input device, a display, speakers, aprinter, etc.

The client devices 104 and 106 may be any type of computing devicecapable of receiving input related to an item and communicating with theblockchain node 112. The client devices 104 and 106 may each include amemory and one or more processing units (or processors). The clientdevices 104 and 106 may be the same type of client device or differenttypes of client devices. A client device may include a number of inputsensors 220 which may be used to obtain an item identifier. In someembodiments, the input sensors 220 may include a camera device and theclient device may use one or more machine vision techniques to obtainthe identifier. For example, the client device may use optical characterrecognition (OCR) to identify a serial number or other identifier markedon an item. In some embodiments, the input sensors 220 may include abarcode reader that may be used to scan a machine-readable code relatedto the item. Additionally, a client device may include a communicationsinterface 222 that enables the client device to communicate with anyother suitable electronic devices (e.g., the blockchain node 112).

FIG. 3 depicts an illustrative example of a process 300 that may beperformed to verify/transfer an ownership interest for a registry itemin accordance with at least some embodiments of the disclosure. In FIG.3, multiple client devices 302 (A and B) may be in communication with aregistry network 304 having a number of blockchain node servers. In someembodiments, at least some of either the blockchain node servers of theregistry network 304 or the client devices 302 may be resource providercomputers.

At step 1 of the process 300, an operator of client device 302 (A) maydetermine that he or she is interested in gaining ownership of, orchecking on an ownership status of, a registry item 306. In someembodiments, the operator of the client device 302 (A) may enter anidentifier for the item into a mobile application executed upon theclient device 302 (A) via a keypad. In some embodiments, the operator ofthe client device 302 (A) may scan a machine-readable code using ascanning device of the client device 302 (A) in order to automaticallyinput the identifier for the item 306. The machine readable code may belocated on the item or on packaging associated with the item 306. Insome embodiments, a format or content of the identifier may beassociated with a type or category of item. In at least some of theseembodiments, upon receiving the identifier for the item 306, the clientdevice 302 (A) may determine the particular type or category that theitem 306 belongs to. For example, the client device 302 (A) may, uponreceiving an identifier associated with a bicycle, determine that theitem 306 is a bicycle based on the format of the received identifier. Insome embodiments, the system may query a database table to identify aparticular item associated with an identifier.

At step 2 of the process 300, the client device 302 (A) may transmit theidentifier to a processing node of the registry network 304. Uponreceiving that identifier, the processing node may initiate an identityservice 308 request to identify the item and the current owner of thatitem. To do this, the identity service may first locate an item registryassociated with the item. An item registry may be a blockchain whichincludes a number of transaction records associated with the item. Insome embodiments, the item may be associated with both a public registry310 and a private registry 312. In some embodiments, the item 306 may beassociated with a single registry, at least a portion of the data storedwithin which is encrypted. For example, at least a portion of theinformation related to a user (e.g., a current owner of the item) may beencrypted such that it may only be accessed by a processing node of theitem registry network 304 or other authorized entity. The item registryfor a particular item may be stored in association with the itemidentifier or some identifier derived from the item identifier (e.g., ahash value). In some embodiments, the request may include an indicationof a payment account to be used in completing the requested transaction.

At step 3 of the process 300, the processing node of the item registrynetwork 304 may retrieve at least one of the item registries 310 or 312associated with the item. In some embodiments, the processing node mayfirst determine a level of access or authorization associated with therequestor. Upon making that determination, the processing node mayidentify what information, if any, may be provided to the requestorbased on the determined role or level of access. In some embodiments,the information to be provided to the requestor may also depend upon thetype of the request submitted. For example, if the request is a requestfor the identity of the current owner of the item, then the processingnode may be configured to provide a response with the requestedinformation (if the requestor is authorized). If the request is arequest to transfer an ownership interest in the item, then theprocessing node may not return any information.

The information obtained by the identity server 308 may be obtained froma transaction record in the identified blockchain. In some embodiments,the processing node may analyze the most recent transaction record inthe blockchain. In some embodiments, the processing node may analyze themost recent transaction record in the blockchain related to a transferof ownership. The information obtained by the processing node mayinclude at least a contact information for the current owner. Forexample, the processing node may identify a phone number or emailaddress at which the current owner may be contacted.

At step 4 of the process 300, the processing node may initiate anotification service 314. The identity service 308 may communicate thecurrent owner's contact information to the notification service 314 andthe notification service 314 may generate a message to be transmitted tothe current owner via the contact information. The generated message mayinclude an indication as to the requested action (e.g., transferownership, check on current ownership status, etc.). In someembodiments, the generated message may also include an indication of atrade item or amount, for which the requestor is willing to offer togain ownership of the item. This notification service can permitanonymous, but trusted, communication between the current owner andsomeone interested in an item.

At step 5 of the process 300, the processing node may communicate with asecond client device 302 (B) using the contact information provided. Insome embodiments, the notification service 314 may be configured toprovide a push notification or text message to the client device 302(B). In at least some embodiments of the disclosure, the user of theclient device 302 (B) is able to respond to the generated message. Insome cases, the response may be initiated upon the user selecting abutton on a graphical user interface (GUI). For example, the clientdevice 302 (B) may display buttons to “Approve” or “Decline” thetransaction. In some embodiments, the user of the client device 302 (B)may be given the ability to input text (e.g., into a text input field ofthe GUI) that will be included in a response. For example, if the actionis to obtain current ownership information, then the user may enter hisor her name to be provided in the response.

It should be noted that some embodiments of the system may requireauthentication of the user of the device prior to initiating therequested transaction. In some embodiments, the level of authenticationmay be varied according to the value of the item. For example, thesystem may require a strong authentication (e.g., dual factorauthentication or better) for items valued at more than a predeterminedthreshold value (e.g., $50.00) and basic authentication (e.g., singlefactor authentication) for items valued at under the predeterminedthreshold value. In some embodiments, the system may require the samelevel of authentication for any transaction to be completed. It shouldbe noted that basic embodiments of the system described hereinincorporate at least single factor authentication as possession of thesecond client device 302 (B) serves as an authentication factor. In someembodiments, the authentication may be performed locally on the secondclient device 302 (B). For example, the user may utilize a fingerprintscanner or other input sensor on the second client device 302 (B) toprovide biometric or other personal data. In another example, the usermay provide a password or PIN on the second client device 302 (B).

In some embodiments, the authentication may be performed by a thirdparty service (e.g., a service unrelated to the other entities describedherein). In these embodiments, the notification may be transmitted tothe second client device 302 (B) and a user of the second client device302 (B) may execute a third party mobile application installed upon thesecond client device 302 (B). The third party mobile application maycommunicate with a backend server that provides support for the thirdparty mobile application in order to verify the identity of the user ofthe second client device 302 (B). In some embodiments, the third partymobile application may provide a token that may be used by the systemdescribed herein to determine whether the user is authenticated.

At step 6 of the process 300, after receiving a response to thegenerated message, the processing node may complete the requestedtransaction by generating a transaction record. The processing node mayappend the transaction record to one or more item registries. In someembodiments, the processing node may not complete the transaction untilone or more additional conditions are met. For example, the transactionmay only be completed once the requestor has provided payment. In someembodiments, the item registry network 304 may charge a payment accountprovided by the requestor. At step 7 of the process 300, at least one ofthe requestor and/or the current owner may be notified of the completedtransaction via the client devices 302 (A and B).

By way of illustrative example, consider the following scenarios inwhich the system described herein may be implemented. In a firstillustrative scenario, a resource provider (e.g., a merchant) maymaintain a physical retail location (e.g., a storefront). In thisscenario, the resource provider may register each item in the retaillocation with the item registry network 304. In some cases, an itemregistry may be created for each item. A user may enter the retaillocation in order to obtain an item. Upon locating the item, the usermay scan a barcode on the item using his or her client device (e.g., amobile phone). The client device may obtain an identifier associatedwith the item from the barcode, which it may communicate to the itemregistry network 304 along with an indication of a payment account to beused in completing a transaction for the item. Upon receiving the itemidentifier, the item registry network 304 may generate a message to theresource provider to confirm the transaction. The resource provider, inturn, may convey a price (e.g., an amount of currency) of the item tothe item registry network 304 in a response to the message. Uponreceiving the response, the item registry network 304 may charge theprovided payment account for the indicated amount. In some embodiments,the registry network 304 or another computer affiliated with it, maygenerate an authorization request message with the payment accountidentifier and a transaction amount. The authorization request messagemay be transmitted to an issuer of the account via an acquirer and apayment processing network. The issuer may respond with anauthorization. A clearing and settlement process may occur at a latertime.

Upon completing the transaction using the indicated payment account andin response to receiving the authorization response message, the itemregistry network 304 may automatically generate a transaction record tobe appended to the respective item registry. In addition, the itemregistry network 304 may generate a receipt for the transaction andtransmit that receipt to the user's client device. The user may thenpresent the receipt on the client device to the resource provider toprove ownership of the item.

In a second illustrative example, the user may lose or have the itemstolen. In this example, a second user may scan the item to verify anownership status of the item. In this scenario, the second user may scana barcode on the item or manually input an identifier for the item(e.g., a serial number) using his or her client device. The clientdevice may then communicate that identifier to the item registry network304, which may retrieve the item registry associated with the item. Insome embodiments, the item registry network 304 may generate anotification to be sent to a current owner's client device via contactinformation stored in a transaction record of the item registry. Inthese embodiments, the user may be given the ability to respond to thenotification by either providing an identity or allowing the itemregistry network 304 to provide details of the current owner to therequestor. In other embodiments, if the requestor is authorized toaccess information about the owner, the item registry network 304 mayprovide information about the current owner to the requestor. Forexample, if the request to view a current owner's information isreceived from a client device associated with a law enforcement entity,then the item registry network 304 may provide personal information forthe user to the client device. It should be noted that a process forverification of an ownership status may be performed even if the item isstill in possession of the current owner. For example, the owner of theitem may present the item to a financial institution as collateral for aline of credit (e.g., a loan). In this example, the financialinstitution may scan the item to determine whether the item actuallybelongs to the user that presented it.

FIG. 4 depicts an example electronic record that may be implemented inrelation to a registry item in accordance with at least some embodimentsof the disclosure. In FIG. 4, an electronic record, and in particular anitem registry 402, may comprise a record of transaction records 404related to a particular item which is distributed across a blockchainnetwork. In some embodiments, the item registry 402 may comprise ablockchain ledger, in which a number of transaction records related tovarious item transactions are processed in a “block,” the record ofwhich is then distributed to a number of nodes of the blockchainnetwork.

As described above, a number of transaction records 404 may beassociated with an item registry 402. The item registry 402 may includeitem information 406, which may be formatted as an item identifier. Insome embodiments, the item identifier may be generated with respect tothe item, which may be a particular good or service. In someembodiments, the item identifier may be generated using item informationprovided via a client device or during an item enrollment process. Theitem identifier may be generated according to a specified format usinginformation related to the item. For example, the item identifier may begenerated as some combination of item type and serial number. In someembodiments, the item registry 402 may be generated by a resourceprovider 408 that initially supplies the item (e.g., a merchant ormanufacturer).

As an entity conducts transactions with respect to various items, clientdevices associated with those entities may generate requests andtransmit them to the blockchain network (e.g., an item registry network)to be completed by the blockchain network. Upon completion of atransaction, a new transaction record may be generated and appended tothe item registry 402. In some embodiments, each transaction recordappended to the item registry 402 may include a signature 410 that maybe used to verify the authenticity of the transaction record. Thetransaction record 404 may also include transaction data 412. In someembodiments, the transaction data 412 included in a transaction record404 may include information related to the transaction conducted, theentity that conducted the transaction, contact information for thatentity, or any other suitable information.

As transactions are conducted with respect to an item registry, atransaction record is generated for that transaction and appended to theitem registry. It should be noted that a number of different types oftransactions may be recorded in an item registry. For example, inaddition to transfers of ownership, the item registry may includetransaction records associated with liens, accidents, maintenance, orother events that impact the item. In one illustrative example, an itemregistry associated with a vehicle may include transaction recordsindicating maintenance of the vehicle, accidents that the vehicle hasbeen involved in, repairs made to the vehicle, and transfers ofownership for the vehicle. Accordingly, the item registry may constitutean unalterable history of the vehicle. In this way, any party interestedin the vehicle (e.g., an insurance agency) may be given completehistorical data for the vehicle by accessing the item registry 402.

Each transaction record may be signed using a private key to create asignature 410 for the transaction record. In some embodiments, thetransaction record may be signed by a process node of the item registrynetwork using a private key associated with the item registry network.In this way, the transaction record may be verified using a public keyassociated with the item registry network. In some embodiments, atransaction record may be signed by one of the parties to a transaction(e.g., the current owner) using a private key associated with thatparty. In this way, the public key associated with the party may beobtained (e.g., from a repository of public keys) and used to verify theauthenticity of the transaction record.

FIG. 5 depicts a first example process 500 for generating an itemregistry record and transferring an ownership interest in the item thatmay be implemented in accordance with embodiments of the disclosure.Some or all of any of the processes described herein (or variationsand/or combinations thereof) may be performed under the control of oneor more computer systems configured with executable instructions and maybe implemented as code (e.g., executable instructions, one or morecomputer programs or one or more applications). The code may be storedon a computer-readable storage medium, for example, in the form of acomputer program including a plurality of instructions executable by oneor more processors. The computer-readable storage medium may benon-transitory.

In FIG. 5, various interactions are depicted between several examples ofcomponents described throughout this specification. In particular, FIG.5 depicts a client device 502, which may be used to obtain input relatedto a registry item 504 provided by a resource provider computer 506. Atleast one of the client device 502 and the resource provider computer506 may be in communication with a registry network 508. The itemregistry network 508 may include at least an identity service 510, anitem registry 512, and a notification service 514.

The process 500 may begin at S502, when a registry item 504 is enrolledin the described system by the resource provider 506. In someembodiments, the resource provider may register each registry item thatit maintains in an inventory. For example, if the resource providercomputer is operated by a retailer, then each item (or each itemassociated with a value over a threshold value) may be registered in theitem registry network 508. In some embodiments, the item registrynetwork 508 may generate an item registry (e.g., a blockchain) for eachof the enrolled registry items. In some embodiments, the item registrynetwork 508 may append a transaction record indicating an initialownership status of the registry item 504 into an item registry 512 thatrecords data for a particular category of item to which the registryitem belongs.

At S504, a user may select the registry item 504 for purchase. In someembodiments, the registry item 504 may be selected from a resourceprovider entity's available stock. The user may select a number ofregistry items in this manner. At S506, the user may present theregistry item to a point-of-sale (POS) terminal in communication withthe resource provider computer 506. At S508, an input sensor of the POSterminal may be used to obtain an identifier of the item. In someembodiments, the identifier may be read from a barcode (or othersuitable machine readable code). In some embodiments, the enrollmentprocess described at S502 may be performed upon presentation of the itemto the POS terminal by the user. For example, the resource provider mayreceive a number of inventory items that it stores within a warehouse orother suitable storage location without taking possession of the items.In this example, the items may continue to be registered to themanufacturer of the items until the item is purchased from the resourceprovider. By way of illustration, when a user purchases an item from theresource provider, the resource provider may initiate two separatetransactions for the item. In the first transaction, the resourceprovider may transfer ownership of the item from the manufacturer toitself. The resource provider may then immediately initiate a secondtransaction to transfer ownership from itself to the user. This mayresult in two separate transaction records being generated for the itemand appended to the item registry. By storing inventory items in thismanner, the resource provider may be able to avoid costs/risksassociated with item ownership. For example, costs incurred due toinventory shrinkage (e.g., theft or accounting errors) are incurred bythe manufacturer as opposed to the resource provider.

At S510, the POS device may request payment for the registry item 504.The user may elect to use payment information stored on the clientdevice 502 to complete the transaction. In some embodiments, the paymentinformation may be a primary account number (PAN) associated with apayment account. In some embodiments, a token service may be executed onthe client device in order to provide the POS terminal with a paymenttoken. In some embodiments, the client device 502 may also communicatean identifier or other contact information associated with the clientdevice 502. For example, the client device 502 may relay a mobile phonenumber, a user's email address, or any other suitable contactinformation to the resource provider computer 506.

In some embodiments, the POS terminal or another computer affiliatedwith it, may generate an authorization request message with the paymentaccount identifier and a transaction amount. The authorization requestmessage may be transmitted to an issuer of the account via an acquirerand a payment processing network. The issuer may response with anauthorization. A clearing and settlement process may occur at a latertime.

At S514, after completing the purchase transaction (e.g., in response toreceiving the authorization response message, the resource providercomputer 506 may automatically transmit details of the transaction tothe item registry network 508 so that the item registry network 508 canrecord the purchase transaction in the item registry 512. In someembodiments, the resource provider computer 506 may transmit the tokenor PAN used to complete the transaction. In some embodiments, theresource provider may omit any details that might be used to identifythe new owner of the item.

FIG. 5 depicts two non-limiting examples of embodiments which may beimplemented in order for a purchaser of an item to claim an ownershipinterest in the item after completing the purchase described above. Thefirst embodiment is described starting at S516, at which time the itemregistry network 508 may generate a transaction code to be associatedwith the transaction record. In some embodiments, the transaction codemay be a text string or other identifier that is associated with thetransaction record created for the completed purchase transaction. Theitem registry network 508 may transmit that transaction code to theresource provider computer 506.

At S518, the resource provider computer 506 may relay the transactioncode to the client device 502. In some embodiments, the transaction codemay be translated into a machine readable code (e.g., a barcode or QuickResponse (QR) code), so that it may be scanned using the client device.In some embodiments, a machine readable code may be presented on adisplay device of the POS terminal. In some embodiments, the machinereadable code may be printed on a paper receipt provided to the user ofthe client device 502. In some embodiments, the transaction code may bewirelessly transmitted to the client device 502 via a wirelesstransmission (e.g., Bluetooth, WLAN, etc.).

At S520, the client device 502 may communicate the transaction code, aswell as contact information for the client device 502 (e.g., a phonenumber) to the identity service 510 of the item registry network 508.Upon receiving the transaction code and contact information, theidentity service 510 may add that contact information to the itemregistry 512 at S522.

The second example of an embodiment which may be implemented in orderfor a purchaser of an item to claim an ownership interest in the itemafter completing the purchase described above is described starting atS524, at which time the identity service of the item registry networkmay receive a token or other payment account information from theresource provider computer 506. In this example, the identity service510 may query a repository of payment information or contact an issuerassociated with the payment information in order to obtain a contactinformation for the new owner of the item. The identity service 510 maythen convey the contact information to the notification service 514.

At S526, the notification service may generate a message to betransmitted to the client device 502 via the contact informationprovided by the identity service 510. The message may include aninvitation to claim ownership of the registry item 504. In someembodiments, the message may include a request for additional userinformation to be associated with a transaction record stored inrelation to the completed transaction.

At S528, the user may respond to the generated message. In someembodiments, the response may include an indication that the user wouldlike to participate in the item registry network 508. In someembodiments, the response may include additional information for theuser that was requested by the notification service 514. Upon receivingthe response from the user, the notification service 514 may update thetransaction record in the item registry 512 with the receivedinformation at S530.

FIG. 6 depicts a second example process 600 for generating an itemregistry record and transferring an ownership interest in the item thatmay be implemented in accordance with embodiments of the disclosure. InFIG. 6, various interactions are depicted between several examples ofcomponents described throughout this specification. In particular, FIG.6 depicts a transferee device 602, which may be used to obtain inputrelated to a registry item 604 which is owned by a user of a transferordevice 606. At least one of the transferee device 602 and the transferordevice 606 may be in communication with an item registry network 608.The item registry network 608 may include at least an identity service610, an item registry 612, and a notification service 614.

Process 600 may begin at S602, when a transferee device 602 is providedwith an identifier for a registry item 604. In some embodiments, thetransferee device may receive the identifier within a text input fieldassociated with a mobile application installed upon, and executed from,the transferor device 602.

At S604, the transferee device 602 may transmit the item identifier tothe item registry network 608 in order to initiate a transactionassociated with the registry item 604. In some embodiments, thetransferee device 602 may also transmit information needed to complete atransaction (e.g., payment information). In some embodiments, the itemidentifier may be transmitted to a mobile application server thatprovides backend support for the mobile application installed upon thetransferor device 602. In these embodiments, the transferee device 602may transmit the item identifier to the mobile application server. Themobile application server may identify an account associated with thetransferee device 602, retrieve additional information related to theaccount, and transmit the identifier to the item registry network 608along with the additional information. In these embodiments, theadditional information may be transmitted by the mobile applicationserver over a secure channel and the user need not enter the additionalinformation multiple times (e.g., for each requested transaction).

At S606, the identity service 610 may retrieve an item registry 612associated with the registry item 604 based on the received itemidentifier. To do this, the identity service 610 may query a repositoryof item registries for an item registry 612 associated with the itemidentifier. In some embodiments, the item registry 612 may be maintainedwith respect to a particular category or type of the registry item 604.In these embodiments, the identity service 610 may identify the itemregistry 612 associated with that particular category of item.

At S608, the identity service 610 may determine a contact informationfor a current owner of the registry item 604 from the item registry 612.To do this, the identity service may analyze at least one transactionrecord associated with the item identifier. In some cases, this may bethe latest transaction record (e.g., the transaction record associatedwith the latest date) in a series of transaction records associated withthe item identifier. The contact information may be provided by theidentity service 610 to the notification service 614.

At S610, the notification service 614 may generate a notificationmessage to be provided to the current owner of the registry item 604based on the requested action. Once generated, the notification messagemay be transmitted to the transferor device 606 via the contactinformation. In some embodiments, the notification message may be a textmessage or SMS message. In some embodiments, the notification messagemay be a push notification which is pushed to the transferor device 606.

At S612, the transferor device 606 may display the notification messageto a user of the transferor device 606. In some embodiments, thecontents of the notification message may be displayed within a graphicaluser interface (GUI) of a mobile application installed upon, andexecuted from, the transferor device 606. The user of the transferordevice 606 may be given the ability to provide input to be transmittedin a response. In some embodiments, the input may include an indicationas to whether the transaction is authorized. In some embodiments, theinput may include one or more conditions that need to be fulfilledbefore the transaction can be completed. For example, the user may entera price at which the item should be purchased. In another example, theuser may enter a second item identifier which is associated with an itemfor which the user would like to trade. The user's input is thentransmitted from the transferor device to the item registry network 608within a response to the notification message.

At S614, the item registry network 608 may determine whether there areany conditions that need to be fulfilled prior to completion of thetransaction. For example, the item registry network 608 may determinewhether an amount of currency is due for the item. In this example, thenotification service 614 may charge the amount due to a payment accountprovided in the request submitted by the transferee device 602. In thisexample, the notification service may first transmit an authorizationmessage to the transferee device 602 to obtain permission to bill theamount to the payment information. Once each condition has beenfulfilled, the requested transaction may be completed.

At S616, the notification service may update the item registry 612 toinclude a transaction record associated with the conducted transaction.In some embodiments, the transaction record may include details of thetransaction completed as well as a signature. The signature may comprisea hash value of the transaction details which has been signed using aprivate key associated with the item registry network 608. The signaturemay be verified using a public key associated with the item registrynetwork 608 by independently generating the hash value from thetransaction data in the transaction record. In some embodiments, atleast a portion of the transaction details may be encrypted.

At S618 and S620, the notification service 614 may provide anotification to at least one of the transferor device 606 and thetransferee device 602. In some embodiments, the notification may includean indication that the transaction has been completed. In someembodiments, the transaction may be a transfer of ownership and thenotification may include a receipt for the completed transaction.

Embodiments of the invention provide for a number of technicaladvantages. For example, an electronic record for a particular item isdistributed across a number of remote nodes, which may each be operatedby different entities. The electronic record provides an unalterablehistorical record to be associated with the item. The system enables aquick determination as to a current ownership status of an item as wellas the ability to quickly conduct a transaction for an item. Inembodiments in which a retailer or other merchant uses the describedsystem, the system enables a user to enter a store operated by thatmerchant, scan an item, and leave the store without being required to gothrough a checkout process. Additionally, embodiments of the system mayresult in lower inventory shrinkage (e.g., theft and accounting errors).For example, if each item is initially registered as being owned by aresource provider, then that resource provider is able to account foreach item in its inventory. In the event that a particular item isstolen, the thief may be unable to sell the stolen property, reducingthe incentive for theft.

Additionally, in embodiments of this system, two users are able totransfer ownership of an item in an anonymous, or at least partiallyanonymous, fashion. For example, two parties may record a transfer oftitle to an item without ever obtaining the other party's identity orany information. This anonymity protects both parties to the transactionin that the transaction is conducted without exposing any personalinformation to either party. In some cases, the system may only store aphone number or other contact information, limiting the exposure ofsensitive data by the system. Even then, this contact information maynot be exposed to either of the parties to a transaction, creating asecure and anonymous manner of transferring ownership of items.

It should be understood that any of the embodiments of the presentinvention can be implemented in the form of control logic using hardware(e.g. an application specific integrated circuit or field programmablegate array) and/or using computer software with a generally programmableprocessor in a modular or integrated manner. As used herein, a processorincludes a single-core processor, multi-core processor on a sameintegrated chip, or multiple processing units on a single circuit boardor networked. Based on the disclosure and teachings provided herein, aperson of ordinary skill in the art will know and appreciate other waysand/or methods to implement embodiments of the present invention usinghardware and a combination of hardware and software.

Any of the software components or functions described in thisapplication may be implemented as software code to be executed by aprocessor using any suitable computer language such as, for example,Java, C, C++, C #, Objective-C, Swift, or scripting language such asPerl or Python using, for example, conventional or object-orientedtechniques. The software code may be stored as a series of instructionsor commands on a computer readable medium for storage and/ortransmission, suitable media include random access memory (RAM), a readonly memory (ROM), a magnetic medium such as a hard-drive or a floppydisk, or an optical medium such as a compact disk (CD) or DVD (digitalversatile disk), flash memory, and the like. The computer readablemedium may be any combination of such storage or transmission devices.

Such programs may also be encoded and transmitted using carrier signalsadapted for transmission via wired, optical, and/or wireless networksconforming to a variety of protocols, including the Internet. As such, acomputer readable medium according to an embodiment of the presentinvention may be created using a data signal encoded with such programs.Computer readable media encoded with the program code may be packagedwith a compatible device or provided separately from other devices(e.g., via Internet download). Any such computer readable medium mayreside on or within a single computer product (e.g. a hard drive, a CD,or an entire computer system), and may be present on or within differentcomputer products within a system or network. A computer system mayinclude a monitor, printer, or other suitable display for providing anyof the results mentioned herein to a user.

The above description is illustrative and is not restrictive. Manyvariations of the invention will become apparent to those skilled in theart upon review of the disclosure. The scope of the invention should,therefore, be determined not with reference to the above description,but instead should be determined with reference to the pending claimsalong with their full scope or equivalents. For example, although thedescribed embodiments mention the use of electronic records in order toassess a risk level of an action, an electronic record can also be usedto access data or other services. For example, electronic records may beused to gain access to a location or service (e.g., a train ride orconcert). In this example, the electronic record may include atransaction record which indicates that a ticket has been associatedwith an account.

One or more features from any embodiment may be combined with one ormore features of any other embodiment without departing from the scopeof the invention.

A recitation of “a”, “an” or “the” is intended to mean “one or more”unless specifically indicated to the contrary.

All patents, patent applications, publications, and descriptionsmentioned above are herein incorporated by reference in their entiretyfor all purposes. None is admitted to be prior art.

What is claimed is:
 1. A method comprising: maintaining, by a processingnode of an item registry network, a public blockchain and a privateblockchain, wherein each of the public blockchain and the privateblockchain include a series of transaction records, and wherein theprivate blockchain includes sensitive information unavailable via thepublic blockchain; receiving, by the processing node, a request toperform a transaction with respect to an item, the request including atleast an item identifier and an action to be performed with respect tothe item; determining a level of access associated with an originator ofthe request to perform the action with respect to the item; identifying,by the processing node based on the item identifier, a blockchainassociated with the item, the blockchain being selected from the publicblockchain and the private blockchain based on the determined level ofaccess; identifying, by the processing node from a transaction record ofthe series of transaction records, a contact information for a currentowner of the item; providing, by the processing node, a notification ofthe requested transaction to the current owner via the contactinformation; receiving, by the processing node from the current owner, aresponse indicating whether the transaction should be approved ordeclined; completing, by the processing node, the requested action uponreceiving a response to the notification from the current owner thatindicates the transaction should be approved, wherein completing therequested action comprises initiating a payment transaction by charginga payment account provided by an originator of the request; generating,by the processing node upon receiving an authorization response messagefor the transaction, a new private transaction record and a new publictransaction record based on the action, the new transaction recordsigned by the processing node using a private key associated with theitem registry network, wherein each transaction record of the blockchainis signed using the private key; and appending, by the processing node,the new private transaction record to the private blockchain and the newpublic transaction record to the public blockchain.
 2. The method ofclaim 1, further comprising notifying at least one of the originator ofthe request or the current owner of a completion of the transaction. 3.The method of claim 2, wherein the action is a transfer of ownership andthe notification includes a receipt for the transaction.
 4. The methodof claim 2, wherein the completion of the transaction is performedanonymously.
 5. The method of claim 1, wherein the contact informationfor the current owner is identified from the latest transaction recordin the series of transaction records.
 6. The method of claim 1, whereinthe contact information comprises at least one of a phone number or anemail address.
 7. The method of claim 1, wherein the requested action iscompleted upon detecting that a fulfillment of a condition indicated inthe response has been met.
 8. The method of claim 1, further comprisingdetermining a level of access to be associated with an originator of therequest, wherein the notification of the requested action is provided tothe current owner if the level of access is sufficient to authorize therequested action.
 9. A processing node of an item registry networkcomprising: one or more processors; and a memory including instructionsthat, when executed by the one or more processors, cause the processingnode to: maintain a public blockchain and a private blockchain, whereineach of the public blockchain and the private blockchain include aseries of transaction records, and wherein the private blockchainincludes sensitive information unavailable via the public blockchain;receive a request to perform a transaction with respect to an item, therequest including at least an item identifier and an action to beperformed with respect to the item; determine a level of accessassociated with an originator of the request to perform the action withrespect to the item; identify, based on the item identifier, ablockchain associated with the item, the blockchain being selected fromthe public blockchain and the private blockchain based on the determinedlevel of access; identify, from a transaction record of the series oftransaction records, a contact information for a current owner of theitem; provide a notification of the requested transaction to the currentowner via the contact information; receive, from the current owner, aresponse indicating whether the transaction should be approved ordeclined; complete the requested action upon receiving a response to thenotification from the current owner that indicates the transactionshould be approved, wherein completing the requested action comprisesinitiating a payment transaction by charging a payment account providedby an originator of the request; generate, upon receiving anauthorization response message for the transaction, a new privatetransaction record and a new public transaction record based on theaction; sign the new transaction record using a private key associatedwith the item registry network, wherein each transaction record of theblockchain is signed using the private key; and append the new privatetransaction record to the private blockchain and the new publictransaction record to the public blockchain.
 10. The processing node ofclaim 8, wherein at least a portion of the information included in thenew transaction record is encrypted.
 11. The processing node of claim 8,wherein the instructions further cause the processing node to determinewhether the originator of the request is authorized to perform therequested action.
 12. The processing node of claim 8, wherein theblockchain is selected from at least a public blockchain or a privateblockchain.
 13. The processing node of claim 12, wherein the blockchainis selected based on a level of access associated with the request. 14.The processing node of claim 12, wherein the current owner is a resourceprovider.
 15. A client device comprising: at least one input sensor; oneor more processors, and a memory including instructions that, whenexecuted by the one or more processors, cause the client device to:obtain, via the at least one input sensor, an identifier for an item;generate, based on input received from a user of the client device, arequest to perform an action with respect to the item, the requestincluding at least the identifier and an identifier for a paymentaccount; transmit the request to an item registry network, the requestcausing the item registry network to: determine a level of accessassociated with the client device with respect to the item; identify,based at least in part on the determined level of access, an itemregistry associated with the item from a plurality of item registries,the plurality of item registries comprising at least a public blockchainand a private blockchain, each of the public blockchain and the privateblockchain including a series of transaction records, and wherein theprivate blockchain includes sensitive information unavailable via thepublic blockchain; and complete the action with respect to the itemusing information included in at least one transaction record of theseries of transaction records of the identified item registry byinitiating a payment to a current owner of the item using the paymentaccount; and upon completion of the action, cause the series oftransaction records in each of the public blockchain and the privateblockchain to be updated by a processing node of an item registrynetwork by appending a new transaction record to the series oftransaction records of each of the public blockchain and the privateblockchain indicating that a user of the client device is now the ownerof the item, each new transaction record signed by the processing nodeusing a private key associated with the item registry network, whereineach transaction record of the series of transaction records is signedusing the private key; and receive a response to the request thatindicates completion of the action.
 16. The client device of claim 15,wherein the instructions further cause the client device to: receive,from the item registry network, a notification that includes a secondaction to be performed with respect to a second item owned by the userof the client device; receive input from the user indicating that thesecond action is authorized; and transmit a response to the itemregistry network that causes it to update the item registry by adding atransaction record indicating the second action.
 17. The client deviceof claim 15, wherein the action is an action to obtain ownership of theitem.
 18. The client device of claim 17, wherein the response to therequest includes a receipt for the item.
 19. The client device of claim15, wherein the instructions are executed via a mobile applicationinstalled upon the client device.
 20. The client device of claim 15,wherein the at least one input sensor is a barcode scanner.